New global foreign trade regulations in July 2023: Trade changes between China and the world
3 July 2023
In todays globalized world, trade relations between countries are becoming increasingly close. However, with adjustments in national economic policies, the introduction of new foreign trade regulations continues to influence the global trade landscape. This article will detail the content of global foreign trade regulations in July, 2023, and how these new regulations affect trade relations between China and the world.
Major North American ports to hold a major strike starting July 1, 2023, which may affect the global supply chain
3 July 2023
On June 28, 2023, the International Longshore and Warehouse Union Canada (ILWU Canada) issued a 72-hour strike notice to the British Columbia Maritime Employers Association (BCMEA), announcing a strike starting at 8:00 AM on July 1, 2023. This strike will affect over 30 ports in British Columbia involving approximately 7,400 dockworkers and 49 employers and operators, including...
The United Nations report reveals that global trade rebounded in the first quarter of 2023, and China and Indias export performance was eye-catching.
30 June 2023
The latest "Global Trade Update" report released by the United Nations Conference on Trade and Development (UNCTAD) indicates that both global trade in goods and services showed positive growth in the first quarter of 2023. This growth is particularly notable following the downturn experienced in the second half of 2022. According to the report's data, global merchandise trade increased by 1.9% in the first three months of 2023 compared to the fourth quarter of 2022...
Abnormal global climate drives agricultural product prices up: impacts on economic and financial stability and responses
29 June 2023
Unusually high temperatures and dry weather worldwide have recently triggered a massive rise in international agricultural futures prices. According to the latest forecast by the World Meteorological Organization (WMO), the likelihood of an El Ni?o phenomenon between June and August 2023 is almost 70%, which could mean that this summer will be warmer.
Indonesia to ban copper exports to promote the development of domestic metal processing industry
28 June 2023
Indonesian President Joko Widodo recently announced that the country will soon stop exporting raw copper and instead process it into cathode copper domestically. Behind this decision is the Indonesian governments continuous push to enhance the domestic resource processing value chain. It is understood that Freeport Indonesia and Amman Mining...
Under the changes in the global trade environment, Chinas exports fell by 7.5% in May.%
25 June 2023
Recent foreign trade statistics for May released by Chinas General Administration of Customs show Chinas total import and export value reached 501.191 billion USD, a 6.2% year-on-year decrease. Exports totaled 283.499 billion USD (down 7.5%), imports totaled 217.692 billion USD (down 4.5%), with a trade surplus of 65.807 billion USD, narrowing by 16.1% year-on-year. Against the backdrop of global economic weakness and reduced consumption...
Canadian wildfires trigger a surge in orders for air purifier manufacturers
21 June 2023
The raging wildfires in Canada have not only caused an air quality crisis locally but also affected multiple regions in the United States, driving surging demand for air purifiers and related products. The wildfires impact on air quality has generated substantial demand for dust removal and air purification products. On major e-commerce platforms, air purifiers and...
Domestic energy storage companies accelerate going to sea, facing opportunities and challenges
21 June 2023
Recently, domestic energy storage companies like EVE Energy have frequently secured major overseas energy storage contracts. According to CICC forecasts, global energy storage demand this year is expected to reach 189GWh, representing over 60% year-on-year growth. As overseas energy storage market demand grows increasingly robust, what opportunities and challenges will domestic energy storage companies face while expanding their overseas operations? This year, Chinas renewable...
Labor-management negotiations at US West Coast ports reach preliminary agreement, shipping industry faces complex challenges
20 June 2023
First, the state of the labour negotiations: Preliminary agreement reached on June 15, 2023, the U.S. West Terminal Labor Negotiations, the International Terminal and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA), representing the employer group, reached a preliminary labour contract agreement under the mediation of the U.S. Secretary of Labor Council.
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